to preserve the NOLs, despite equity offerings of up to $1 billion so if KKR bought it all, and $1 billion is 42%, Mkt cap after offerings is $2.2 billion for say 500 million shares then around $4 bucks.- do your own diligence
This may be pursuant to an order to pay de minimis claims for LTI interests
See following docket in bankruptcy case.
Case 08-12229-MFW Doc 11448
Allowed CCB-2 Guarantees Claims, and General Unsecured Claims) were paid in full. Future distributions by WMILT will begin to be made to holders of Liquidating Trust Interests in
RLF1 9602901V.1 2
Case 08-12229-MFW Doc 11448 Filed 11/15/13 Page 3 of 6
Tranche 4. Once holders in Tranche 4 receive their respective distributions, all unsecured creditors will have been paid in full.
Full statement refers to exploring financing alternatives including reducing debt or common or pfd stock issue.
(including rights offerings to existing shareholders)
Later. it discusses differences between equity value of $76 million and value if NOL's can be used.
As previously disclosed in our prior SEC filings, WMIHC retained Blackstone Advisory Partners L.P. ("Blackstone") to assist WMIHC in developing our acquisition strategy and to provide financial advisory services in connection with potential transactions. Under the terms of the agreement, Blackstone is working with us to consider potential mergers, acquisitions or business combinations, and is assisting with developing an acquisition strategy, identifying and evaluating strategic opportunities, collecting and analyzing information regarding potential target companies, determining the valuation of potential target companies and advising on capital-raising, if needed, to fund this external growth strategy. In addition, WMIHC's board of directors has established a Corporate Strategy and Development Committee (the "CS&D Committee") in furtherance of the foregoing objectives. The CS&D Committee has met regularly with Blackstone to discuss and evaluate potential transactions of varying size and across varying industries. During the quarter ended September 30, 2013, the CS&D Committee met six times. The foregoing notwithstanding, we have not, to date, identified and executed definitive documentation relating to any transaction.
In connection with, and in addition to, the foregoing, we may explore various financing alternatives to fund our external growth strategy, including improving our capital structure, which may include increasing, reducing and/or refinancing debt; pursuing capital raising activities, such as the issuance of new preferred or common equity and/or a rights offering to our existing shareholders, launching an exchange offer, and pursuing other transactions involving our outstanding securities
Immediate $1.9 bill extr gain, $8 billion of unrecognized gain, $2 billion tax refunds, $1.4 bill time value of money for holding $4 bill for years WAMU deposit, adds up to $13.4 bill. So let them pay the full Justice Dept claim and then "sue" to get their money back, because if there is any ambiguity in the "P&A" agreement, they contributed to it, so it can be construed against them. Should be good for about a score of years in COFC, where time passes slowly. Why should JPM, which agreed to a settlement preserving claims between govt and JPM, get away free when all the equity shareholders had to give releases to get crumbs. JPM has been reporting gains ever since from releases of improved loans.
Just to indicate how long some employee claims may take to resolve (Mostly affect WM Lit Trust, not WMIH) here is schedule Serve discovery Nov 1, 2013, Document production Feb 28,2014, addl witnesses Mar. 15 2014, Depos, affidavits, April 2014, Depos completed June 30, 2014, Expert reports Jul 2014, HEARING Sep 8, 2014, assume it runs to end of Sep, Post hearing memoranda Oct 15.
Note, dates are approximate because not counted 1 by1 (+156 from date X) -to some extent may be shortcut by motion to estimate certain employee claims. Someone else asked about payoffs to PFD vs. LTI's. Last round of negotiations of POR gave PFD both liquidating interests and WMIH equity at higher ratio than common to WMIH. Presume WMIH is actually working on reorganizing, M&A activity for sometime early next year.
Is that advertising for Windows 8 instead of like IBM having real people say This is what I can do, in addition to accessing all my regular programs, I can go to these pictures of my dog, and these notes from my friends, and this news feed ......they just show people dancing with grey bricks....they might as well show hula hoops for all the information this conveys about Windows uses or Surface
TORONTO - Making a vaccine to protect against the new H7N9 flu virus that has emerged in eastern China could prove to be problematic, influenza experts acknowledged Thursday.
There hasn't been enough time to produce even the seed strain to make H7N9 vaccine, let alone small batches of a prototype vaccine for testing. So researchers haven't had a chance to see how a vaccine against this new flu strain might work in people.
But clinical trials of vaccines made to protect against other viruses in the H7 family have shown the vaccines don't induce much of an immune response, even when people are given what would be considered very large doses.
"In all cases where these vaccines were trialed, it was found that the vaccines were poorly immunogenic," said Nancy Cox, the virologist who heads the influenza branch at the U.S. Centers for Diseases Control in Atlanta.
"And so this is a signal that we might be facing challenges with producing an immunogenic vaccine using this particular virus. But that remains to be determined."
Cox and CDC flu expert Dr. Tim Uyeki touched on the potential problem in a perspective article on the H7N9 situation published online Thursday by the New England Journal of Medicine.
Nice close into strength today, possibly some buying from conference presentations last week.
On advice to longs, if VICL ever announces (when it announces) date of release of top line data, watch your stops, may need to sit at computer for 3 days with no stops, to avoid the bear raid that they did
to Dendreon, Read, looking for Dendreon bear raid perps, on seeking alpha, SEC still investigating, but
watch your own stake so the claim jumpers cant move the markers.
Flu hospitalization rates
This index measures the number of flu-related hospitalizations per 100,000 people nationwide. The 2012-2013 season has passed 2009-2010 levels, when the H1N1 virus caused the first pandemic in 40 years.
If you read the Washington Post, their report with excerpts from the CDC's flu surveillance shows that in February, 2013, influenza hospitalizations exceeded levels for the last 3 seasons, including the 2009-2010 H1N1 season. Perhaps is because we don't have effective antivirals, or any IV antiviral, available in this country. Maybe somebody should sit up and take notice of this high level of flu hospitalization, and the costs.
11th case of new beta coronavirus in Britain - patient with no travel history so picked up from P2P transmission in England, related to SARS, related to bat exposure in Middle East, and who could make a vaccine for such a novel virus on short notice?
See this intro to the CDC Seasonal Flu page ( I would link if stupid YHMB would let me)
Influenza activity remains high in parts of the country, but is declining nationally. This season has been severe for people 65 and older; key indicators show many hospitalizations and deaths in that age group. CDC routinely recommends vaccination as long as influenza viruses are circulating. CDC also recommends that high risk persons, including seniors, seek care as soon as possible for flu symptoms because antiviral treatment can avert serious flu outcomes.
Maybe they're figuring out that the at-risk populations, and hospitalizations, are not responding well to an orally delivered antiviral, and that they (the health establishment/drug approval process) are putting those at-risk populations at higher risk, as demonstrated by the 9% P&I mortality in recent weeks, well above epidemic levels. Waiting for the ACIP meeting Feb. 21 to discuss the influenza situation in more detail, but it seems that "the flu season" is over messaging is to reassure a cynical public in the face of elderly and pediatric hospitalizations and deaths.
And here is one of the comments on a story by CDC that said flu season is over
Lost our neighbor to flu complications in late Jan. Only 63--she fell, developed flu in the hospital and then pneumonia. Told her husband she was ready to come home--and two days later she was dead.
Developed flu in the hospital - and how did they treat it?? with an oral antiviral?? Oh well, we did our best - NOT!
Take a look at the spike in P&I hospitalizations in the Flu view among the elderly.
Shows P&I (Pneumonia and Influenza) mortality in latest weeks of 2013 spiked to 9%, higher than any of the last 5 years, and we don't have an IV antiviral available for use because it isn't even in an ongoing clinical trial,so you can't get an emergency/individual use. What is the FDA thinking and why aren't they and CDC concerned about a 9% spike in influenza deaths?